Repatriation of FCNR maturity proceeds to third parties allowed when authorised by account holder and bonafides verified. Repatriation of maturity proceeds of FCNR(B) deposits may be permitted to third parties outside India where the account holder specifically authorises the remittance and the authorised dealer is satisfied about the bonafides of the transaction; AD Category I and authorised banks must ensure compliance with applicable FEMA provisions and any other statutory permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Repatriation of FCNR maturity proceeds to third parties allowed when authorised by account holder and bonafides verified.
Repatriation of maturity proceeds of FCNR(B) deposits may be permitted to third parties outside India where the account holder specifically authorises the remittance and the authorised dealer is satisfied about the bonafides of the transaction; AD Category I and authorised banks must ensure compliance with applicable FEMA provisions and any other statutory permissions.
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